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San Diego’s Pension Fund Names New CEO

— The interim chief executive officer of the San Diego City Employees' Retirement System was selected today to permanently head the city's pension fund.

Mark Hovey was named interim CEO of SDCERS after David Wescoe resigned last November. Hovey joined SDCERS in 2007 as its chief financial officer.

The SDCERS Board of Administration voted unanimously to select Hovey as the CEO from a field of 65-plus candidates following a nationwide search.

"Mark Hovey is an outstanding executive and has proven to be a very effective leader," said Mark Sullivan, the board's president.

"Through an extensive national search process, which garnered over 65 candidates, Mark's knowledge, experience and professionalism elevated him above the competition every step of the way," he said.

"I am confident that his high ethical standards and pursuit of operational excellence will move SDCERS even closer to its pursuit of being the best run public pension system in the country."

Wescoe, who had headed SDCERS since 2006, left to take a job as executive administrative director of the Motion Picture Industry Pension & Health Plans.

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